Wholesaler adds spice to expansion plans with £1.5m funding package

A Birmingham-based wholesale supplier of products to the food and drink industry has secured £1.5m in funding which it will use to create a manufacturing and production hub.

The loan from MEIF Maven WM Debt Finance, part of the Midlands Engine Investment Fund, will enable Indus Foods to create manufacturing units and extend its existing warehousing to improve efficiencies.

Indus Foods, which says a number of jobs will be created, offers a range of services across the food service, manufacturing, retail and wholesale sectors, specialising in ethnic foods.

The company is a wholesaler of Asian foods which include spices, tinned ingredients, oils and flours. Indus Foods serves around 5,000 retail and foodservice customers and also supplies fast food packaging and housewares.

Indus Foods is led by managing director, Tariq Areehy, who said: “We are delighted to receive this funding boost to enable us to execute our growth plans. We are looking forward to modernising our warehouse and creating a manufacturing and production hub where whole spices will be prepared under our own brand label. We have some really exciting plans ahead and we are looking forward to working with the Maven team to grow the business.”

Raj Minhas, investment manager at Maven Capital Partners, said, “Indus is a well-established and profitable business that is looking to revamp its building to allow it to operate more effectively and efficiently as part of its growth plan. We are delighted to provide the business with this loan to help it pursue these ambitious plans and look forward to working with Tariq and the team.”